CEVA Logistics celebrates first day of trading on SIX Swiss Exchange
May 05, 2018: CEVA Logistics, one of the leading logistics companies, has marked the first day of trading for its shares on the SIX Swiss Exchange in Zurich with the traditional ringing of a cow bell to launch the day's business.
CEVA CEO, Xavier Urbain was joined by executives from SIX and other members of the CEVA team to celebrate the company's arrival on the SIX.
"We are proud to open this new chapter for CEVA which builds on the transformation that the company has undergone over the last four years. CEVA has successfully repositioned itself among the top third party logistics providers through its global presence, end-to-end service offering in contract logistics and freight forwarding, its balanced blue-chip customer portfolio and its strong solution capabilities," said Urbain.
The company’s shares were as low as CHF25.3 in early trades, down from CHF27.5, where its initial public offering (IPO) was priced early this week.
"Our aim was to raise 1.2 Bn CHF through the all-primary IPO to strengthen the balance sheet of our company – this objective is 100 percent achieved. It unlocks additional growth potential with existing and new customers," he added.
As part of the IPO, CMA-CGM, the third largest container shipping group in the world, has acquired a substantial stake in CEVA Logistics.
"Having CMA-CGM on board as a shareholder is a sign of confidence and opens up new perspectives for us in the development of complementary services that meet the growing customer demand for integrated end-to-end solutions and one-stop-shop providers. Our current relationships with customers, carriers and other business partners will remain unchanged".
"Our management and 56,000 employees are fully committed to delivering on our strategy, to accelerate growth and to enhance profitability – in order to sustainably create value for our customers and shareholders," concludes Urbain.